New Zealand's unemployment rate fell to 4.2 percent in the first quarter of 2019 from 4.3 percent in the previous period, matching market expectations and close to its 10-year low. The jobless rate dropped to a 10-year low of 4.0 percent in the quarter ending in September 2018. Unemployment Rate in New Zealand averaged 6.01 percent from 1985 until 2019, reaching an all time high of 11.20 percent in the third quarter of 1991 and a record low of 3.30 percent in the fourth quarter of 2007.
Unemployment Rate in New Zealand is expected to be 4.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in New Zealand to stand at 4.30 in 12 months time. In the long-term, the New Zealand Unemployment Rate is projected to trend around 3.80 percent in 2020, according to our econometric models.